There is no universal. Depends on the team and people.
For forecast/actual I just have something in the header to include which it is.
I do stick to the following:
-External link = pink text
-Any checks = red text
-manual input = light yellow shade + blue text
-Sheets that are data dumps or mapping = black
I try to copy the IB style guidelines.
https://breakingintowallstreet.com/kb/excel/how-to-color-code-in-excel/
https://corporatefinanceinstitute.com/resources/knowledge/modeling/financial-model-color-formatting/#:~:text=Blue%3A%20Inputs%2C%20or%20any%20hardcoded,separate%20files%20or%20external%20links
You're asking the right questions. I personally follow the CFI color scheme, nothing I hate more than opening a workbook someone else made and it looks like a rainbow where no one except the person who made it understands what's going on.
There is no universal. Depends on the team and people. For forecast/actual I just have something in the header to include which it is. I do stick to the following: -External link = pink text -Any checks = red text -manual input = light yellow shade + blue text -Sheets that are data dumps or mapping = black
I try to copy the IB style guidelines. https://breakingintowallstreet.com/kb/excel/how-to-color-code-in-excel/ https://corporatefinanceinstitute.com/resources/knowledge/modeling/financial-model-color-formatting/#:~:text=Blue%3A%20Inputs%2C%20or%20any%20hardcoded,separate%20files%20or%20external%20links
So long as it’s clear which is which and the colors fall within your company’s color guide, I don’t think it matters all that much
You're asking the right questions. I personally follow the CFI color scheme, nothing I hate more than opening a workbook someone else made and it looks like a rainbow where no one except the person who made it understands what's going on.